Debt Snowball

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Uploaded by on Apr 15, 2008

Dave Ramesys approach to Debt relief. Shown during MInd Your Own Business Series

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Education

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  • That's right you sold your guns and God was pleased!!! No killing of human beings, but killing of credit cards, and debt!

  • I wiped out a 5 year car loan in a little bit shy of 2 years using this method.

  • With interest based debt...it's alot easier and you save more money by first building a 6mth-1yr emergency fund. Then, say you owe $2,000 on a credit card. Find the extra $200 dollars(not plus the the minumum due)...BUT..don't use that money to pay. Put that $200 in savings every month and pay the min payment as close to the beginning of the mth as possible..as interest accrues daily. Save for 10 mths or whatever..then ask ur lender for a payoff amt and wipe it out. You save on ALOT interest.

  • For everyone commenting about "omg 12% !@&%, the whole point of this video is not that you can get 12% interest, its that you can save thousands of dollars by simply paying off your debt., do the math, even if you were to get 0% interest you would still make over $100,000.00 if you had paid off your debt sooner in that scenario.

  • @Eagle109 he was talking about a stock fund not a bank account.. now if you want to get paid to pay your bills check out my free video,at my channel if you want 12% check out how I play ibm using leap call options or US bank pure stock or swhc pure stock. MY videos are free ..feel free to ask questions in the comment section.

  • A good "growth stock" mutual fund. You can find many that average over 12%. Remember this is long term...5 or more years.

  • 12 % ??? Where is this. Is buying realestate and getting rental income or flip returns

    100000

    1200 per month rent

    12%

    Obviously there are property taxes involved but you get the write off on income anyway

  • Kingdom of God....things that glorify God and help people and spread His message of salvation through Jesus Christ.

  • Wait!  First tell me where I can get 12% interest on my money.

  • Great video, thanks! I didn't understand what you meant at the end about give to a kingdom.

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